Thursday, August 01, 2013

Oh the games people play, now. Every night and every day, now. Never meaning what they say, now. Never saying what they mean.

Comes now the biggest taxpayer funded give away in the history of the United States. Obamacare subsidies are nothing more than an invitation to game the system and get more "free" benefits."Mike" is a low paid, full time worker in a company that still offers health insurance.

Mike’s $3,241 contribution is tax-deductible. Still, that’s a hefty 11.6 percent of his wage income, which might make it appear that Mike’s coverage meets Obama-care’s definition of “unaffordable.” In that case, he would qualify for subsidized coverage on the exchange. Unfortunately, exchange eligibility is restricted to those whose cost for “self-only” coverage under their employer plan exceeds 9.5 percent of household income, and Mike has family coverage. Since Mike’s share of a “self-only” premium would be only 4.9 percent of his income, he is not legally permitted to buy subsidized coverage through the exchange.

The way Mike sees it, Uncle Sam is levying a substantial tax on him simply for working for a large employer that responsibly offers health benefits.

The administration’s ineptitude in rolling out Obama-care has given Mike a lucky break. In 2014, his employer may not be reporting to the exchange any details about the coverage offered him at work. The final rule on premium tax-credit eligibility verification requires that any applicant for premium tax credits attest to the exchange whether he or she has employer coverage, its cost, and extent

Now he has a plan.Work the system in his favor. If he gets caught, he figures nothing will happen or he can always plead ignorance and promise not to do it again.Wonder how many "Dan's" there are who will find a way to game the system?We may never know unless they go on TV and brag about it like the woman who got the free Obamaphone.

Oh the games people play, now. Every night and every day, now. Never meaning what they say, now. Never saying what they mean.

Comes now the biggest taxpayer funded give away in the history of the United States. Obamacare subsidies are nothing more than an invitation to game the system and get more "free" benefits."Mike" is a low paid, full time worker in a company that still offers health insurance.

Mike’s $3,241 contribution is tax-deductible. Still, that’s a hefty 11.6 percent of his wage income, which might make it appear that Mike’s coverage meets Obama-care’s definition of “unaffordable.” In that case, he would qualify for subsidized coverage on the exchange. Unfortunately, exchange eligibility is restricted to those whose cost for “self-only” coverage under their employer plan exceeds 9.5 percent of household income, and Mike has family coverage. Since Mike’s share of a “self-only” premium would be only 4.9 percent of his income, he is not legally permitted to buy subsidized coverage through the exchange.

The way Mike sees it, Uncle Sam is levying a substantial tax on him simply for working for a large employer that responsibly offers health benefits.

The administration’s ineptitude in rolling out Obama-care has given Mike a lucky break. In 2014, his employer may not be reporting to the exchange any details about the coverage offered him at work. The final rule on premium tax-credit eligibility verification requires that any applicant for premium tax credits attest to the exchange whether he or she has employer coverage, its cost, and extent

Now he has a plan.Work the system in his favor. If he gets caught, he figures nothing will happen or he can always plead ignorance and promise not to do it again.Wonder how many "Dan's" there are who will find a way to game the system?We may never know unless they go on TV and brag about it like the woman who got the free Obamaphone.